Reduction-Oxidation reactions are collectively known as Redox reactions. A redox reaction is a type of chemical reaction that involves a transfer of electrons between two species. An oxidation-reduction reaction is any chemical reaction in which the oxidation number of a molecule, atom, or ion changes by gaining or losing an electron. Redox reactions are comprised of two parts, a reduced half and an oxidized half, that always occur together. The reduced half gains electrons and the oxidation number decreases, while the oxidized half loses electrons and the oxidation number increases. "loss of e- = oxidation" and "gain of e- = reduced." There is no net change in the number of electrons in a redox reaction. Those given off in the oxidation half reaction are taken up by another species in the reduction half reaction.
The two species that exchange electrons in a redox reaction are given special names. The ion or molecule that accepts electrons is called the oxidizing agent; by accepting electrons it causes the oxidation of another species. Conversely, the species that donates electrons is called the reducing agent;
Most common examples of redox reactions are combustion, respiration and photosynthesis etc.